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Making the Right Offer in Your Professional Practice

Episode Notes

Many doctors do not feel that they need to create an offer in their practice. This can be for a variety of reasons. Maybe they feel that it cheapens their practice, or that they don’t want to be seen as the “discount doctor” in town. What they don’t realize is that an offer is not always about coupons and discounts. In this episode, Mike shows what kind of scenarios call for an offer for a professional practice, how to construct that offer, and some of the hidden benefits of having the right offer in your practice.

Situations when you may need an offer:

  1. Not enough business through the door (not enough patients or clients)
  2. Not enough profit from the existing patients or clients
  3. Too much competition in the neighborhood from competing doctors
  4. Not enough (or too much) experience

Now that you see the top reasons why doctors may need to create an offer for their practice, lets take a look at the steps or value ladder for creating the right offer.

Here is an example for a General Dentist:

  1. Cleaning and Xray
  2. Whitening
  3. Cosmetic Treatment
  4. Dental Implant
  5. Longevity of the patient in the practice

With each step, the price increases but so does the value. The other factor that is so important is the value that the patient brings in referrals.

The additional benefits of having the right offer for your practice:

  • Can be the answer to industry commoditization (lots of doctors providing basically the same thing).
  • Can create differentiation
  • Puts the doctor in full control of the business growth

For more information on how to construct the right offer, contact Mike Green of Doctor Demographics at mike@doctordemographics.com